Personal Finance

The standard Internal Revenue Service (IRS) form that individuals can use to file their annual income tax returns

• 1040

• 1099

• w4

• w2

The set amount of money, per dependent, you can subtract from your taxable income

• Pay

• Salary

• Exemption

• Income

Tags

CCSS.HSA.SSE.A.1

Taxes paid by employees to federal and state government through a direct deduction from their paycheck

• Sales Tax

• Income Tax

• paycheck

• salary

A government-run insurance program that provides healthcare assistance to low income Americans

• Medicaid

• Medicare

• Tax

• Paycheck

A government-run insurance program that provides healthcare assistance to elderly and disabled Americans

• Medicaid

• Medicare

• Insurance

• Tax

A document attached to every paycheck that details your earnings and the amount withheld for taxes, health insurance, retirement funds, etc.

• salary

• Payroll Tax

• Progressive Tax

• Pay Stub

A federal program that provides monthly benefits to millions of Americans, including retirees, military families, surviving families of deceased workers, and disabled individuals

• Tax

• Income Tax

• Payroll Tax

• Social Security

A standardized dollar amount that reduces your taxable income, specifically for individuals who do not receive additional benefit by itemizing their deductions into medical expenses, donations, etc.

• Pay

• Standard Deduction

• Salary

• Tax

The amount of income that is used to calculate an individual's or a company's income tax due

• w 2

• Taxable Income

• w 4

• Invest

Tags

CCSS.6.EE.B.6

Form that an employer must send to an employee and the IRS at the end of the year to report the employee's annual wages and taxes withheld from their paycheck

• W-2

• W-4

• Salary

• Paycheck